The project demonstrates the firm's specialized expertise in the redevelopment of complicated, infill sites located in institutional submarkets, says Steve Groetsema of Bridge Development Partners.

“The purchaser believes strongly in the central New Jersey market for multi-tenanted office space and this building's close proximity to the Garden State Parkway and major metro areas made it very attractive,” says Kislak's Barry Waisbrod.

Greg May's leadership experience on projects nationwide provides a comprehensive new resource for HNTB's Pennsylvania transit and rail clients.

“Because the space and layout of these plans more closely resemble a single-family home, we're seeing strong interest from buyers in their mid-30s who are on their second home purchase,” says Jeff Benach, principal of Lexington Homes.

Mag Mile Capital was able to secure the 10-year, fixed rate loan at a 5.75% interest rate and a 25-year amortization.

The property is in a last-mile distribution location near the major East Coast economic centers of New York, Philadelphia and Washington, DC.

The project is expected to power 22 percent of city's government infrastructure by 2020 and will help the city meet sustainability goals

Development amenities will include a curated library, fitness center, terrace pool, dog park, roof terrace and expansive communal gardens.